Blog Visitors' CommentsCondo Search's comment..
I just drop by to say "thank you" for your excellent blog, and safe me from committing at a high price and wrong time buying. It helps me a small property hunter(with hard earning money) and others(i believed)a better inform. Thank you again...

Young Buyer's comment...
I've just graduated and started working, and I hope to own a residential property in Singapore after 2010/2011. So I'm starting to do my Singapore property research now. I have never come across such a comprehensive coverage on the Singapore property market, and I thank you for enlightening readers like me who want to know more :) Keep up the good work!

Young Expat's comment...
i am an overseas expat who moved to singapore a year ago and started looking out recently for property to buy as rentals started to rise all around me..i was advised to follow ur forum and since then have been impressed with all the wonderful tips exchanged in this portal..thanks to all the contributors.(Smart Buyer, the blogger here, would like to say many thanks to all these unsung heroes too)

Red's comment...
I think your reply give a rational explanation on my question. You are indeed a smart buyer and very knowledgeable.

Kate's comment...
This is a great blog filled with latest news, historical insights and good opinions that gives direction. Not the sitting on the fence type of 'pc' opinions. I love this blog. Please keep up the good work! You are really doing Singaporeans a big favour! Thank you!! I will keep on reading.

Phantasia's comment ...
Hi smart buyer,
Just wanna say thanks for your response to my query earlier in another post. And also for the very informative blog! Have learnt much from your postings! Thanks for sharing.

Smart Buyers, 10 reasons to waitFear that property price will go up forever? Here are 10 reasons to consider before you make that big commitment.......Posted by Smart Buyer(This post contains the 10 reasons that Smart Buyer first wrote for himself in mid 2007 when the property market was in a runaway euphoria, which he subsequently posted on this blog for all property buyers to consider. The arguments are supported by official data and illustrated with property supply and property price index graphs.)

Bad investments are made in Good Times
Looking at the subprime problem, it is definitely a bad news that will take time to filter down. The falling US$ is another problem that will hit the US economy. China and HK property and share mkt are 2 big bubbles.. Beware !!...Posted by km(This post contains km's first-person account of the 1998's property market crash and all the troubles that came with it - soaring mortgage rate, vacant properties with no available tenants, banks pressing for top-ups as property valuation dropped, ... his story has a happy ending of course. He'd share with you openly the lessons learnt.)

Solvency Worries STALK CREDIT-DERIVATIVES MARKET. They are now talking of SOLVENCY, not just LIQUIDITY issue .......it's really quite serious now....Posted by AnonymousHaving a house which has a big loan is a liability at this global trouble time.So far the market is still moving down slow due to the reason that many of the countries are injecting funds to buy part of the share of the banking market. The negative news continues to rise. The money is better leave in CPF and local banks to grow interests....Posted by Anonymous

During the 1995 -1998 period, the same scenerio arise..Many people cant get the HDB flat. There was the ballot system and it is just like "ti-kam", 1 out of 8 can get to buy. Due to this flocked system, many people, including those who are not so keen buyer also join the Q, paying $10 as a ballot fee, when they get balloted, then ......Posted by Anonymous

This market is definitely driven by greed and liquidity.I have never seen anything like it in my lifetime. Property prices goes up as fast a the stock market. This market is definitely driven by greed and liquidity in the asian market. What goes up must come down!...Posted by rob-502

Your Property Investment Decides Your Financial SuccessYour Property Investment may be the sole determinant of your financial success in life. One wrong move,......Posted by Smart Buyer (This post contains Smart Buyer's first-person account of the 1990's boom and bust, and how investment opportunities presented themselves in the market crash of 1998 and 2006.)

Saturday, September 27, 2008

While Singapore property buyers are wondering why property prices in Singapore haven't fallen yet, property prices have already been falling all over the world. The Global Property Guide, a property research group, reported that for the first half of year 2008, property prices fell in 21 of the 33 countries. We have been getting similar gloomy news about the China property market too.

Business Times - 25 Sep 2008 on the meltdown of the China property market:

"After months of steely resistance, Chinese property developers have finally thrown in the towel and slashed prices as sales fall. Whether the move succeeds in putting a floor under the market will help determine the fate of the economy over the coming year, especially because China needs to spur domestic demand to counter weakening exports as the global credit crunch intensifies."

On the "steely resistance" put up by developers in the initial stage of the property downturn, forumers at the Singapore Property Forum have these views to share with property buyers still waiting on the sideline:

ann:

"This pattern is observed in many countries. Price booms, but after market changes, bust is delayed whilst sellers remain in denial or act tough. All the while, sales volumes are threadbare. Finally, they give up and lower prices. Same thing here in Singapore. Thankfully, most buyers/upgraders/investors can wait. They can wait indefinitely. All the while, the supply glut /TOPs grows closer and closer. Why buy now when you can buy later for less? China carried a myth that prices could not fall because of rapid growth, Olympics etc. What myths do we carry? Yes, IR, F1, YOG etc. "

aitan:

"Agreed with you, Ann. Your boom to bust cycle pattern is part and parcel of this game. Only problem is our bulls in this forum thread refuse to understand the rule of the game and are trying their very best to hold the market, as if they can, by shouting and screaming at all the bears. They refused to admit that our mythology of F1, IRs, YOG and Global City presentation had already been factored in during the last Bull run that ended last year. Hope when they finally realize the rule of the game, they can survive with enough seed money to play the next bust to boom game. "

anonymous:

"Agree with both of you.The longer the bulls wait, the louder the crash. Because when they finally realise that nobody is buying all those hypes of F1, IRs, YOG and Global City; it'll be too late. They'll find themselves having to live with the reality of the economic downturn - low rental yield if they're lucky to find a tenant at all, higher mortgage rate and some will face downright problem with even securing a bank loan, lower bonuses or even pay freeze if not retrenchment ... by which time most buyers have already vanished !!!The long term outlook of Singapore is not as rosy as all the media would like us believe. Both US presidential candidates have vowed to bring back jobs to America. It's going to be a world threatened by protectionism. That can spell doom for an exporter like Singapore. China and India are getting most of the foreign capital inflow with the attraction of their huge domestic market. So how do we compete ? Until we figure out a workable strategy, at the very least, we'll have to become cheaper or be squeezed out of the global market."

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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.